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The value of the Russian ruble continues to fail, forcing Russians to cut back their spending. A recent survey found that more Russians are reducing their buying of basic goods like food. Earlier this month, the Russian ruble plunged to a 16-month low against the US dollar. "Against the backdrop of the current economic situation and rising prices, Russians are trying to save money," said Romir senior director Ksenia Paizanskaya. Earlier this month, the Russian ruble plunged to a 16-month low against the US dollar, the currency's lowest level since Russian President Vladimir Putin launched his invasion of Ukraine February 2022.
Persons: Ksenia Paizanskaya, Vladimir Putin, Janis Kluge, Kluge Organizations: Russian, Service, Russia, German Institute for International and Security Affairs, Washington Locations: Russian, Wall, Silicon, Ukraine
Russia is shifting to a total war economy as its invasion of Ukraine drags on and progress stalls. International relations expert Christoph Bluth pointed to toll of military spending on Russia's economy. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyRussia is shifting to a total war economy as its invasion of Ukraine takes a toll on its economy. But a longer, more intense conflict, requiring a shift to a total war economy, could be a different matter altogether," he later added. Experts have flagged pressures mounting on Moscow's financial state since Russia first began its "special military operation" in Ukraine last year.
Persons: Christoph Bluth, , Bluth, Romir, haven't, Organizations: Service, University of Bradford, German, Foreign Relations, Yale Locations: Russia, Ukraine
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